Larimar Therapeutics (NASDAQ:LRMR) Stock Rating Upgraded by Wall Street Zen

Larimar Therapeutics (NASDAQ:LRMR) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Saturday.

A number of other research analysts have also recently commented on LRMR. Wedbush increased their price target on Larimar Therapeutics from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, March 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Larimar Therapeutics in a research note on Tuesday, April 21st. Lifesci Capital upgraded Larimar Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 24th. Truist Financial upgraded Larimar Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, Citigroup increased their price target on Larimar Therapeutics from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $16.50.

Larimar Therapeutics Stock Performance

Shares of LRMR opened at $3.58 on Friday. Larimar Therapeutics has a 52 week low of $1.80 and a 52 week high of $6.42. The stock has a market capitalization of $371.90 million, a price-to-earnings ratio of -1.74 and a beta of 0.91. The stock has a fifty day moving average of $4.61 and a 200-day moving average of $3.99.

Larimar Therapeutics (NASDAQ:LRMR) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.22. As a group, equities analysts forecast that Larimar Therapeutics will post -1.68 EPS for the current year.

Insider Transactions at Larimar Therapeutics

In related news, Director James E. Flynn bought 5,000,000 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was acquired at an average cost of $5.00 per share, with a total value of $25,000,000.00. Following the transaction, the director directly owned 10,622,957 shares in the company, valued at approximately $53,114,785. This trade represents a 88.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. SummitTX Capital L.P. bought a new position in Larimar Therapeutics during the 1st quarter worth $1,709,000. Renaissance Technologies LLC raised its position in shares of Larimar Therapeutics by 148.9% in the 1st quarter. Renaissance Technologies LLC now owns 739,942 shares of the company’s stock worth $3,330,000 after acquiring an additional 442,676 shares in the last quarter. Inceptionr LLC bought a new position in shares of Larimar Therapeutics in the 1st quarter worth about $198,000. Sei Investments Co. raised its position in shares of Larimar Therapeutics by 54.5% in the 1st quarter. Sei Investments Co. now owns 16,336 shares of the company’s stock worth $74,000 after acquiring an additional 5,763 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Larimar Therapeutics by 143.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 798,462 shares of the company’s stock worth $3,592,000 after acquiring an additional 470,968 shares in the last quarter. 91.92% of the stock is owned by institutional investors.

About Larimar Therapeutics

Larimar Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing treatments for rare diseases using its novel cell penetrating peptide technology platform. Its lead product candidate is CTI-1601, which is in Phase 2 OLE clinical trial for the treatment of Friedreich's ataxia, a rare, progressive and fatal genetic disease. Larimar Therapeutics, Inc is based in Bala Cynwyd, Pennsylvania.